U.S property company sets up in Ireland

It may seem like a strange time to invest in property, but a new Irish-American company based in Dublin has recently been set up, which allows Irish investors the chance to put their money into the U.S property market.

ClearSkyCapital claims to be a “unique” and the “first property investment company of its kind in Ireland.”

It says it will partner with clients from purchase through to sale and offer a full property management service.

"Now is the perfect time to invest in U.S property,” said Ciaran Hynes, managing director of ClearSkyCapital, said. “We are offering properties in Rochester which is one of the most stable property markets in the U.S and Boston has just been ranked by Grubb & Ellis Co. as one of the top 10 cities for commercial property investments."

Todd Fessenden, U.S director of the company, quoted the head of the U.S Federal Reserve as saying that “the recession will come to an end probably this year.”

“We certainly are confident that now is the best time to invest in the U.S property market when there is tremendous value there,” Fessenden added.

Investment properties go from $250,000 upwards and can also go as part of private syndicates with units available in lots of $50,000 or $100,000. It is offering real estate in the retail, commercial or residential sectors.

The company says it currently manages more than $40 million worth of property investments, and says that the properties in its portfolio make total annual returns in excess of 10 percent.